As the most common and costliest natural disaster in the nation, floods affect all areas of the United States and its territories. A flood occurs almost daily somewhere in America, costing thousands of dollars in property damage. 

Help alleviate the financial toll of water damage with commercial flood insurance. Gilsbar has partnered with FloodFlash to offer rapid-payout flood insurance that uses the latest in data modeling and connected tech to bring parametric insurance to businesses of all sizes for the first time.  The result is fast, easy and flexible coverage that is affordable for businesses and profitable for underwriters.

Are You Prepared?

Flooding is defined as a temporary overflow of water onto land that is typically dry. Overland flooding usually occurs when waterways overflow because of rainwater or a possible levee breach. It can also happen when rainfall or snowmelt exceeds the capacity of underground pipes, or the capacity of streets and drains designed to carry floodwater away from urban areas. Flooding is the most common natural disaster, according to the Federal Emergency Management Agency (FEMA). Already this year, more than 800,000 California residents experienced power outages due to flooding. 

Tips to Prepare for Floods
  1. Visit the Flood Map Service Center website to understand the risk of flooding in your area.
  2. Make a communication and disaster plan for your family.
  3. Elevate your furnace, water heater, and electrical panel. 
  4. Educate yourself on how to turn off your electrical power, gas, and water supplies in case you must evacuate.
  5. Purchase and install sump pumps with backup power.
  6. Consider installing backflow valves or plugs for drains, toilets, and other sewer connections.
  7. Bring outdoor belongings inside or tie them down.
  8. Review your insurance coverage and speak with your agent to ensure that you’re covered in the event of floods, which are typically excluded from home insurance.

Know the Terms

Familiarize yourself with the following terms to help identify flood hazards:

  • A flood warning occurs when flooding is impending or occurring.
  • A flood advisory occurs when flooding is expected to be a significant inconvenience but is not considered severe enough for a warning.
  • A flood watch is issued when conditions are ideal for flooding, but it may or may not occur.

Five Reasons to Pick FloodFlash For Your Business
  1. Trusted underwriting capacity - FloodFlash A-rated (AM Best) insurance capacity comes from Munich Re and Hiscox syndicates at Lloyd’s of London. With support from some of Europe’s largest reinsurers.
  2. Simple quotes - FloodFlash has rated every property in the US. Get a price indication using three pieces of information with no flood zone requirements
  3. Broadest coverage - Use FloodFlash for deductibles, business interruption costs, excess limit increases and costs not covered under NFIP or other private insurance.
  4. Affordable premiums - Deploy FloodFlash to counter price increases for complex and specialist flood risks like storm surges and surface water flooding.
  5. Award-winning claims - FloodFlash technology is already proven in the UK having won over 30 industry awards for their rapid-payment claim service.

Talk to a specialist today and discuss your requirements and options.